Fidelity Bank confirms appointment of new MD/CEO, Onyeali-Ikpe

The Board of Directors at Fidelity Bank has confirmed the appointment of Nneka Onyeali-Ikpe as the new Managing Director/CEO-Designate of the company.

Oyeali-Okpe who is the company's current Executive Director, Lagos and Southwest, will resume her new appointment on January 1, 2021.

Her appointment came as a result of the imminent retirement of the current MD/CEO, Nnamdi Okonkwo, from the Board of Fidelity bank effective January 1, 2021.

In a circular obtained by MyNigeria.com which was signed by Okonkwo, he revealed that the completion of his second tenure (as CEO) will end December 31, 2020 in line with the bank’s governance policies.

"In the same vein, the Board has approved the appointment of Mr. Kevin Ugwuoke, the current Chief Risk Officer of the Bank, as Executive Director/Chief Risk Officer, subject to the approval of the CBN.

"Mrs. Onyeali-Ikpe was appointed to the Board of Fidelity Bank in 2015 as an Executive Director and currently oversees the Lagos and Southwest Directorate. She led the transformation of the Directorate to profitability and sustained its impressive year-on-year growth across key performance metrics. Nneka has been an integral part of the current management team responsible for the remarkable increase in the Bank’s performance in the last 5 years with the area under her direct responsibility contributing over 28% of the Bank’s PBT, Deposits and Loans.

"Nneka has over 30 years of experience across various banks including Standard Chartered Bank Plc, Zenith Bank Plc and Citizens International Bank/Enterprise Bank, where she held several management positions in Legal, Treasury, Investment Banking, Retail/Commercial Banking and Corporate Banking. As an Executive Director at legacy Enterprise Bank Plc, she received formal commendation from the Asset Management Corporation of Nigeria (AMCON), as a member of the management team, that successfully turned around Enterprise Bank Plc.

"She holds Bachelor of Laws (LLB) degree from the University of Nigeria, Nsukka; a Master of Laws (LLM) degree from Kings College, London and has attended executive training programs at notable global institutions including; Harvard Business School; The Wharton School University of Pennsylvania; INSEAD School of Business; Chicago Booth School of Business; London Business School and IMD amongst others.

"Kevin Ugwuoke joined Fidelity Bank in 2015 as General Manager, Chief Risk Officer. Under his supervision, the Bank’s Total Loan Book has grown by a Compound Annual Growth Rate of 17% from N559.1bn to N1,218.9bn with Cost of Risk averaging 0.7% within the period and Non-Performing Loans Ratio below the regulatory threshold at 4.8% in Q1 2020.

"He has over 29 years of banking experience across various banks namely Citi Bank, Access Bank Plc, United Bank for Africa Plc and legacy Mainstreet Bank Limited, where he worked in various capacities in Banking Operations, Commercial Banking, Corporate Banking and Risk Management. Prior to joining Fidelity Bank, he was Chief Risk Officer at United Bank for Africa Plc and Mainstreet Bank Limited.

"Kevin holds a First Class Honors degree in Civil Engineering from the University of Nigeria, Nsukka and a Post Graduate Diploma in Management from Edinburgh Business School of Herriot-Watt University. He has attended several executive trainings at Harvard Business School and other world-class institutions of learning," the statement read.

The outgoiing CEO, Okonkwo, congratulated Nneka and Kevin, calling on the company staff to show them the support they need in their new roles.